INDIA - India’s agricultural exports (including marine) has recorded a 5.1 per cent growth to $37.29 billion in 2013-14, compared to the same period last year, according to the Economic Survey 2013-14 released on July 9, 2014.
Since the opening up of exports of rice in 2011, there has been a surge in its share in total exports from $2575 million, in 2010-11 to $7742 million in 2013-14, the survey adds.
Exports of marine products alone increased by 44.8 per cent over the same period.
The survey said that exports of total dairy, poultry, meat, and marine products have doubled their share in agricultural exports between 2008-09 and 2013-14.
A stable and long-term trade policy with respect to export of agricultural products is essential for increasing productivity, the survey stressed.
Significantly, some policy changes were made in recent years: exports of rice and wheat were permitted since 2011; and since February 2013 processed and/or value added agricultural products were exempted from export restrictions even if their base produce is subject to an export ban.
These will benefit farmers, incentivize the development of the agro-processing sector, and enhance farm productivity.
During the last five years ending 2012-13, the food processing sector has been growing faster than the agriculture sector at an average annual growth rate of around 8.4 per cent.
With the decline in farm employment, additional employment opportunities have to be created in agro based industries.
Agricultural credit flow achievement was $122 billion, as against the target of $116 billion in 2013-14.
As a percentage of agricultural GDP also private investment has been rising and was 18.1 per cent in 2012-13.
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